MARQUETTE -- With so many options, choosing a new place to live can be overwhelming.  Should you rent or should you buy?  Today, I attempted to simplify things for our viewers by looking into both options.  Bottom line, it all depends on what you're looking for.  Renting is a cheaper, short-term option. 

"Definitely, there is a place for renting when you're just starting out new to a community or looking at options," said realtor, Stephanie Jones.

Others who should look into a rental are those who don't have the time or capability to maintain a property, like young, single professionals or the elderly.  Landlords will generally take care of maintenance for you.

"If something breaks, you call our office, we send a maintenance person down, we fix it and there's no charge to you," said Mark Curran, owner of Curran and Co. apartment complexes.

Most landlords also take care of big utility bills.  

While renting may be more financially frugal from the get-go, if you're more interested in a more long-term investment, buying may be a better option.

"You could rent for years and years and have nothing to show for it, but if you're going to remain committed to a community, when you own, you will have a net growth that you will see after a few years of ownership," Jones said.

It takes about three years to see a return on your investment.  The median priced home in Marquette is about $160,000, with a $1,000 a month mortgage, just a bit over the average monthly Marquette rent of about $800 or $900.

But the higher price that comes with purchasing a home may be worth it to committed families; committed to the upkeep it comes with and committed to staying in the area.  If that sounds like you, realtors say the market is ripe for the buying.

"Right now our market is a little bit geared towards buyers," Jones said.  "It's a wonderful time for first-time home buyers to enter the market."

Still, buying might not be an option if you don't have the funds for upfront costs including a down payment.  If you are looking into both options and need more guidance, contact a local realtor.